Crucial support for the Nifty is at 5550: Gaba

Nifty (5627) we said 'and there is a good chance that 5630 would be taken out and up move for few days may hold…crucial support 5550' the market has closed right on our 5630 points... now if the market has to go up then it needs to stay above 5630…crucial support still is 5550….analysis remains the same...

The crucial support for the Nifty is at 5550 and the resistance is at 5670-5720

Prakash Gaba is a professional technical analyst and a trader based in Mumbai and runs his own consultancy.